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Phillips 66 CEO Projects Global Refining Shortage Next Year
Phillips 66, the No. 2 US oil refiner, is planning for a “constructive” refining market next year with a shortage of fuel-making capacity available to meet global demand. Refining margins are high enough to encourage US refineries to continue running while other less-competitive plants elsewhere in the world shut down, Phillips 66 Chief Executive Officer Mark Lashier said Wednesday in an interview on Bloomberg TV. As much as 700,000 barrels a day of global refining capacity is expected to be taken out of the market next year, he said. “The US has become very competitive in refining,” Lashier said. “We’re ... (full story)
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- Posted: Sep 4, 2024 7:51pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 111
